Here is another mid-year change from the IRS. This is at least beneficial. Beginning July 1, the standard rate to calculate deductible costs of operating an automobile for business use increases from $.51 to $.555 per mile. Please click here to view the IRS news article for more information
As part of our payroll service, we can help you track those mileage reimbursements and calculate the correct taxes. This way you can be sure that your W-2 calculations will be accurate at the end of the year.
Please call us at 765-288-PAID or visit us on the web at www.tpspayroll.com.
